Case Study
Ensuring regulatory compliance, reducing operational costs and delivering a positive impact on 14 million+ customers across seven countries.
This leading global financial institution and a prominent member of the DAX 30 index, aimed to redesign and implement a new Client Risk Rating (CRR) framework across their Private Banking sector in seven countries.
With a vast customer base of over 14 million private and commercial clients, the bank sought to ensure adherence to EU and local in-country regulations, reduce operational costs and reputational risk, and enhance customer service and security controls.
As Anti-Financial Crime (AFC) Senior Project Managers in the UK and Germany, we were entrusted with the responsibility to design and implement the new CRR framework for Private Banking across seven countries.
Our mission was to achieve consistent treatment of customers across different geographies, demonstrate proactive compliance to regulators, and foster collaboration among stakeholders.
Despite the challenges of working across seven primarily non-English speaking countries without a dedicated team, support, authority, or budget, we successfully delivered the CRR design. This accomplishment reduced the number of falsely identified high-risk clients requiring heightened monitoring and control from 4% to 1%.
We also brought together 30 senior stakeholders from business, technology, compliance, legal, and SME backgrounds, creating a shared sense of purpose and trust. Moreover, we translated and implemented change management best practices within a highly political environment, resulting in improved visibility, productivity, and control.
By honing this bank’s programme governance and control performance, we facilitated a more streamlined, effective, and customer-oriented operation. The tailored solutions we implemented led to improved operational efficiency, time and cost savings, and better-quality output.
These enhancements translated into potential benefits for the bank’s end customers, such as more competitive pricing and superior customer service. Ultimately, our collaborative efforts with this client contributed to strengthening their position in the financial market, fostering sustainable growth and long-lasting success for their customers, stakeholders, and shareholders alike.
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